EUR/HUF may rise 111 - 160 pips

396.10 is our pivot point.

Our preference

The upside prevails as long as 396.10 is support.

Alternative scenario

Below 396.10, expect 395.26 and 394.77.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 396.44 and 396.91). Finally, the EUR/HUF is trading above its upper Bollinger band (standing at 396.93).

Supports and resistances

399.66 **

399.16 *

398.66 **

398.17

397.06 last

396.42

396.10 **

395.26 *

394.77 **

Number of asterisks represents the strength of support and resistance levels.